Main figures

  January - March  
From the income statement (NOKm) 2023 2022 2022
Net interest  1,035 759 3,339
Net commission income and other income 541 522 2,042
Net return on financial investments  28 175 380
Total income 1,604 1,456 5,760
Total operating expenses 728 629 2,443
Results before losses 875 827 3,317
Loss on loans, guarantees etc -71 0 -7
Results before tax 946 827 3,324
Tax charge 206 166 718
Result investment held for sale, after tax 38 37 179
Net profit 778 698 2,785
Interest Tier 1 Capital 34 21 63
Net profit excl. Interest Tier 1 Capital 744 677 2,722
       
Balance sheet figures 31 Mar 2023 31 Mar 2022 31 Dec 2022
Gross loans to customers  153,181 147,023 152,629
Gross loans to customers incl. SB1 Boligkreditt and SB1 Næringskreditt 213,967 199,965 211,244
Deposits from customers 123,529 114,053 122,010
Average total assets 225,759 202,936 196,226
Total assets 228,207 207,027 223,110
       
  January - March  
Key figures  2023 2022 2022
       
Profitability      
Return on equity 1) 13.0 % 12.6 % 12.3 %
Cost-income ratio 1) 45 % 43 % 42 %
Deposit-to-loan ratio excl. SB1 Boligkreditt and SB1 Næringskreditt 81 % 78 % 80 %
Deposit-to-loan ratio incl. SB1 Boligkreditt and SB1 Næringskreditt 1) 58 % 57 % 58 %
Growth in loans (gross) last 12 months (incl. SB1 Boligkreditt and SB1 Næringskreditt) 1) 7.0 % 7.9 % 8.1 %
Growth in deposits last 12 months 8.3 % 11.4 % 9.6 %
       
Losses in % of gross loans incl. SB1 Boligkreditt and SB1 Næringskreditt      
Impairment losses ratio 1) -0.13 % 0.00 % 0.00 %
Stage 3 as a percentage of gross loans 1) 0.96 % 1.62 % 0.97 %
       
Solidity 31 Mar 2023 31 Mar 2022 31 Dec 2022
Capital ratio 22.2 % 21.9 % 23.1 %
Tier 1 capital ratio 20.1 % 19.8 % 20.9 %
Common equity Tier 1 capital ratio 18.2 % 18.3 % 18.9 %
Tier 1 capital 21,985 19,797 21,835
Total eligible capital 24,298 21,839 24,147
Liquidity Coverage Ratio (LCR) 194 % 155 % 239 %
Leverage Ratio 6.9 % 6.9 % 7.1 %
       
Branches and staff 31 Mar 2023 31 Mar 2022 31 Dec 2022
Number of branches 40 40 40
No. Of full-time positions 1,415 1,401 1,432
1) Defined as alternative performance measures, see attachment to quarterly report
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Key figures ECC  31 Mar 2023 31 Mar 2022 31 Dec 2022 31 Dec 2021 31 Dec 2020 31 Dec 2019
ECC ratio 64 % 64 % 64 % 64 % 64 % 64 %
Number of certificates issued, millions 1) 129.43 129.39 129.29 129.39 129.39 129.30
ECC share price at end of period (NOK) 123.60 141.20 127.40 149.00 97.60 100.20
Stock value (NOKM) 15,997 18,270 16,471 19,279 12,629 12,956
Booked equity capital per ECC (including dividend) 1) 105.63 99.55 109.86 103.48 94.71 90.75
Profit per ECC, majority 1) 3.51 3.20 12.82 13.31 8.87 12.14
Dividend per ECC     6.50 7.50 4.40 6.50
Price-Earnings Ratio 1) 8.79 11.05 9.94 11.19 11.01 8.26
Price-Book Value Ratio 1) 1.17 1.42 1.16 1.44 1.03 1.10
1) Defined as alternative performance measures, see attachment to quarterly report
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1st quarter 2023

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